$SAGA 15 Min Chart Analysis

Cup and Handle Formation:

Pattern : The chart shows a classic "Cup and Handle" pattern, a bullish signal in technical analysis. The "cup" has formed with two distinct tops (Top 1 and Top 2), indicating a rounded bottom, followed by a "handle" which is a smaller consolidation phase.

Key Levels:

Top 1 and Top 2:

These peaks suggest resistance levels. A breakout above these tops could signal a strong upward momentum.

Handle: The current consolidation phase, where the price is moving sideways to slightly downward, forms the handle. A breakout above this handle's resistance would likely confirm the pattern.


Price Movement:

Current Price: The price is currently at $2.244, within the handle phase of the pattern.

Support: The bottom of the cup provides a psychological support level, which the price has not broken since forming.



Trading Strategy:

Entry Point: Consider entering long positions if the price breaks above the handle's resistance with strong volume.

Stop-Loss: Place a stop-loss just below the handle's low or the cup's bottom to manage risk in case of a false breakout.

Take-Profit: Set take-profit levels based on the measured move from the cup's depth, adjusting for current market volatility. 2.4 to 2.5 easy target .

Conclusion:

Watch for Breakout: Keep an eye on the price action around the handle's resistance. A confirmed breakout could be a strong buy signal.

Always cross-check with other indicators like RSI, MACD, or broader market sentiment to validate your entry and exit points.